NMDC again hikes Iron Ore prices in sync with high global prices

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Bhubaneswar:  After hiking Iron Ore prices by over 30% in April, Public sector Iron Ore miner NMDC once again hiked prices upto 30 percent in the current month. The revised prices have been made effective from 12th of May.

While Iron Ore Lump price (65.53, 6-40mm) has been hiked by 10 per cent to Rs. 7650 per tonne, Fine (643, -1 Omm) price has been hiked by 29.6 per cent to Rs. 6560 per tonne. These FOR prices are excluding Royalty, DMF, NMET, Cess, Forest Permit Fee and other taxes.

On April 15, NMDC had fixed Iron Ore Lump price (65.53, 6-40mm) at Rs. 6950 and Iron Ore Fine (643, -1O mm) price at Rs. 5060 per tonne.

Global Iron Ore prices have witnessed a sharp rise due to robust demand from China and rebounding global steel demand. China, which has reported record steel production in April, continues its iron ore buying resulting skyrocketing of global prices.  The global 62% ferrous content iron ore fines price has conquered the $200/dmt CFR threshold on May 6, the first working day after China’s Labour Day holiday.

 

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